TREE NEWS reports: European Central Bank officials are preparing to raise interest rates in December, people familiar with the matter said. The move would mark a further step in the ECB’s tightening cycle as it seeks to contain inflation. No details on the size of the expected increase were provided.
TREE NEWS reports: A survey of analysts raised the 2027 LME cash copper price forecast to $14,012 a tonne, up from an expected $13,647 in 2026 and $9,939 in 2025, while flagging caution over US inventories and AI-driven demand. The survey also projected a 125,000-tonne copper surplus in 2026, narrowing to 92,000 tonnes in 2027. Aluminium was forecast at $3,276 a tonne in 2026 and $3,001 in 2027.
TREE NEWS update: The U.S. Treasury auctioned four-week bills at a high yield of 3.910% with a bid-to-cover ratio of 3.10, and eight-week bills at 4.020% with a bid-to-cover of 2.63. The results set the latest short-term government borrowing costs.
TREE NEWS update: A rock burst at the Oyu Tolgoi copper mine in Mongolia’s South Gobi province injured 15 workers on the 29th, with no fatalities reported. Operator Oyu Tolgoi LLC said the incident occurred around 18:00 local time when a sudden seismic event in an underground rock fragmentation zone triggered a localized collapse that also affected workers at the site.
TREE NEWS update: Shell’s CEO said the company cannot wisely answer where oil prices will go, offering no directional forecast on crude. The remark leaves the energy major’s outlook on prices open, without specifying a time frame or price level.
TREE NEWS update: The European Central Bank left interest rates unchanged on Thursday, but the biggest news was President Christine Lagarde’s announcement that she will leave the ECB early to pursue greater freedom of expression outside monetary policy. Lagarde said a rate hike was discussed at the meeting and signaled another increase in December remains highly likely. Traders now price an 84% probability of a December hike, while energy prices pose upside inflation risks.
TREE NEWS update: Former Serbian President Aleksandar Vucic said on the 29th in Belgrade that his Serbian Progressive Party will launch internal reforms in the coming days and elect a new leadership. Vucic, who leads the party, announced the move during an address in the capital.
TREE NEWS reports: Paraxylene (PX) futures closed down about 2.8% in night trading, while low-sulfur fuel oil fell more than 2.4%. PTA and fuel oil each dropped 2% in the same session. The moves reflect broad declines across energy and petrochemical contracts.
TREE NEWS update: Palestinian President Mahmoud Abbas said he hopes the formation of Israel’s new government will create conditions for restarting Palestinian-Israeli political negotiations, during a meeting with Cypriot President Nikos Christodoulides on the 29th. Abbas said the Palestinian side has proposed peace initiatives to Israel for years and that the goal of talks is peace and stability for both peoples and the wider region.
TREE NEWS reports: Qatar on Oct. 25 submitted a new draft agreement to Iran aimed at ending the war between Iran and the United States and Israel. Unlike the “seven-day plan” Iran proposed in late September, the new draft seeks to persuade Tehran to allow UN inspectors access to its bombed nuclear facilities in exchange for a partial easing of U.S. sanctions.
TREE NEWS update: Egypt’s central bank raised its benchmark interest rate to 20%, exceeding analysts’ expectations of 19%. The decision lifts borrowing costs further as the monetary authority continues its tightening cycle. No additional details on the vote or forward guidance were provided.
TREE NEWS update: QatarEnergy is purchasing long-term liquefied natural gas supply from the United States and other producers as a trading strategy to secure revenue if exports through the Strait of Hormuz are disrupted, CEO Saad Sherida Al-Kaabi said. “If the strait is closed — which is the real contingency we are planning for — gas prices will spike immediately, and QatarEnergy will earn revenue it otherwise would not,” said Al-Kaabi, who is also Minister of State for Energy Affairs.
TREE NEWS update: Shell’s CEO said higher oil prices now appear to have structural stability, noting that the rise was anticipated six months ago as temporary. The remarks point to a shift in how the company views the durability of current price levels.
TREE NEWS update: US President Donald Trump said he will speak with Brazilian President Luiz Inácio Lula da Silva after Lula won re-election. Trump made the remark without giving a date or details on what the two leaders would discuss. The statement signals a direct line of contact between Washington and Brasília following the Brazilian vote.
TREE NEWS reports: China’s domestic sulfur price has nearly doubled this year, after peaking at 11,600 yuan per tonne for a gain of more than 210%, with prices now off their highs. Import volumes fell sharply amid international disruptions, and sulfur stockpiles at major Yangtze River ports at one point stood at about half of year-earlier levels. Downstream firms are locking in long-term contracts and switching feedstock, while new projects are expected to ease supply and bring prices down.
TREE NEWS reports: Iran has not yet responded to a letter sent by US Vice President JD Vance, Iranian media reported. No details were given on when the letter was sent or what it contained. The report did not specify whether Tehran intends to reply. The letter’s existence comes amid ongoing tensions between Washington and Tehran.
TREE NEWS update: White House adviser Kevin Hassett said the Federal Reserve may take action if US October inflation data comes in very high. The remark ties the central bank’s next move to the strength of the upcoming inflation reading, with no specific policy step or figure given.
TREE NEWS update: Longsys said on Oct. 27 that the supply-demand balance in the memory industry will remain tight, as overseas manufacturers keep NAND Flash capital spending cautious and rely on technology upgrades for modest supply growth. The Chinese memory-module maker told institutional investors that AI large-model deployment in cloud and edge devices is a clear industry trend and should bring sustained demand growth to the memory sector, though short-term demand may be swayed by downstream device-market swings.
TREE NEWS update: US President Donald Trump said the morning was a good one from a GDP perspective, without providing further detail. The remark, made in a brief public comment, referenced economic output data but gave no specific figures or policy context.
TREE NEWS update: European Central Bank President Christine Lagarde’s press conference has ended. The briefing followed the ECB’s latest policy meeting; no further details were provided in the material. The event concluded without additional announcements.